KUCHING: Sarawak’s revenue from timber premium since its increase from RM0.80 to RM50 per cubic metre in 2017 totalled more than RM500 million, revealed Deputy Chief Minister Datuk Amar Awang Tengah Ali Hasan.
He said the increased premium is to generate funds for Yayasan Sarawak to enable the foundation to provide assistance to Sarawakian students who want to further their studies either locally or overseas.
“It is to help fund students who have the capability to further their education in selected fields that are strategic and could contribute to the development of the state.
“It also enables Yayasan Sarawak to give more scholarships and loans, as well as to implement educational activities that are beneficial to the community.
“It is specifically used for education purposes,” he said after officiating at Forest Talk 2019 organised by Sarawak Forest Department, here yesterday.
Awang Tengah pointed out that the premium increase was long overdue, saying the 80 sen charged by the Sarawak government over the years was much lower than what states in the peninsula and Sabah charged.
He also said that total revenue from timber premium depended very much on timber production.
Last week, Chief Minister Datuk Patinggi Abang Johari Tun Openg said that the Sarawak government was injecting more funds into Yayasan Sarawak through the timber premium increase.
He said the effort would provide more opportunities for Sarawakians to get scholarships or loans for education.